MPC keeps Bank Rate unchanged at 0.5%

MPC keeps Bank Rate unchanged at 0.5%

Monetary Policy Committee (MPC) keeps the Bank Rate unchanged at 0.5%

Economic Analysis

06 December 2012

"Not even a gloomier economic outlook from the OBR could tempt the MPC to provide some early Christmas cheer for the UK economy. But this wasn't a surprise. Last month the MPC stated that they judge it unlikely they will cut the Bank Rate "in the foreseeable future". And with the Governments decision to transfer the 'profits' from Bank's QE programme (which has a similar loosening effect), there is, in effect, already a bit more stimulus splashing around the system."

Stephen Boyle, Head of Group Economics

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